Dept/ Agency: Finance Action: ( ) Ratifying (X) Authorizing ( ) Amending Purpose: Application to Local Finance Board for approval of bond ordinance Name of Project(s): Bond Refunding Amount to be Financed: $123,500,000.00 Funding Source: Bonds Local Finance Board meeting date(s): July 8, 2020 Project Information: (Description/ Project No./ Amount Appropriated/Ordinance No.) RESOLUTION OF THE CITY OF NEWARK, IN THE COUNTY OF ESSEX, NEW JERSEY MAKING APPLICATION TO THE LOCAL FINANCE BOARD PURSUANT TO N.J.S.A. 40A:2-51 ET SEQ., AND N.J.S.A. 40A:3-1 ET SEQ. Additional Information: Refunding will give the City much-needed savings in 2020 and 2021.